Global Economy Has Collapsed-Andy Hoffman

Financial analyst Andy Hoffman says the real global economy is in deep trouble, which is much to the chagrin of the Fed. Hoffman explains, “Recall last April, they started smashing gold and started with the ‘taper’ talk. The Fed figured by about this time, they’d be ready to start hiking rates. The fact is the global economy has collapsed. Our real economy has collapsed. Forget the fake PMI numbers or their ridiculous employment numbers. The economy of the world is getting worse and worse and worse. No matter how hard they try to say yes, there is a recovery and we are tapering. Interest rates keep falling and falling. There are plunging rates despite all their talk of recovery and tapering.” Hoffman, who also has deep Wall Street experience, points to the recent sell-off in the stock market and the Fed’s reaction. Hoffman contends, “The Dow Jones propaganda average fell a whopping 9% from its all-time highs. The Fed absolutely freaked out. Within minutes, they had the Plunge Protection Team (PPT) running it back up, and no less than six Fed Governors in the space of three days came out and called for extension of QE and extension of zero-percent-interest-rates (ZERP). That’s how terrified they are, and remember, next week is when QE is supposed to end.”

Why is the Fed so terrified with even a relatively small market drop from all-time highs? Hoffman thinks, “Their fear is a loss of confidence in the dollar. It’s that simple. . . . Since 2008, all they have left in their arsenal is money printing, market manipulation and propaganda. The propaganda doesn’t work anymore. Nobody believes in recovery, and everyone knows it’s not true.” Hoffman also points out, “Just think about the perception if the Dow fell a thousand points in a day or, let alone, three or four thousand points in a day. They would call it the crash of 1929. Look at Europe. Twenty-five European banks failed the stress test. . . . The banking system, as a whole, is on the precipice right now, and the slightest drop will cause the whole 2008 calamity to start all over again. . . . Once that confidence leaves, everyone races out of currencies, and the stock market and the whole economy mirage collapses.”

Hoffman also contends that “economic Mother Nature” is going to have the last word on all markets despite propaganda and manipulation. Hoffman says, “If you are going to try to push gold and silver prices below the cost of production, if you are going to take interest rates way below what they should be and take stock prices way above where they were in 2008, you are going to have a catastrophic collapse. People say the stock market is up and things must be fine—no. . . . Across the board, you are seeing commodities and currencies crash around the world. Of course, the real way economic Mother Nature is going to get back at us is with gold and silver because manipulators cannot create physical gold and silver, and you are seeing inventories drained with record demand. We are going to see economic Mother Nature showing all of her claws.”

Hoffman closes by saying, “This is decades and decades of a mad experiment in global fiat currency, and it’s going to come to an end. No matter how we get to the other side, it’s going to be ugly. The other side one day will be good, but the other side is going to take a long time to get to, and there is going to be a lot of pain and hardship and, hopefully, not world war.”

About the Author

Greg Hunter

Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.

I keep thinking of the twin towers and parallels to the global economy. Parallels are strikingly similar.

Towers represent the global economy. They got struck suddenly without warning. The buildings burned. People in the top were trapped. Many committed suicide to avoid torment. Perhaps tons of paper fuel intensifies heat, quickening support beam failure. Buildings suddenly and without warning collapse. Chain reaction brings all floors crashing.

The last two sentences have not yet occurred economically. Are they a sign of things to come?
If you recall your bible studies, signs and symbols are used heavily to forecast future events. You would think some kind of warning of an event the magnitude we are facing would be provided for. Makes you wonder.

It will be a tragedy for all of those people who have either been fooled by the misinformation out there or too pre-occupied with life to realize the mess the world financial system is in at this point.

As this quest explained…time is likely now short and the opportunity to buy silver and gold is quickly running out.

The large inventories of silver world wide are gone. The industrial demand for silver is going to grow significantly over the next few years and the new inventories of silver will not be there as mining operations have curtailed due to the prices being manipulated downward the last few years.

When the rubber hits the road the upward pressure on the price of silver will be enormous.
I think it is time that we all take Greg and his guests seriously and do all within our power to spread the word to those that are important to us.

In this time of great turmoil there likely is only one reasonable action to take.
Buy physical precious metals and good high potential mining stocks and hold.
Right now that my seem like as contrarian view but over time it could very well be the best approach.

These markets are noting but a fixed poker game not worthy of a back room of the most lowest of motels one can find.

“This is decades and decades of a mad experiment in global fiat currency, and it’s going to come to an end. No matter how we get to the other side, it’s going to be ugly. The other side one day will be good, but the other side is going to take a long time to get to, and there is going to be a lot of pain and hardship and, hopefully, not world war.”

I always look for your final QUESTION to the interviewie, sp where u ask, “What is it going to look like in the end of 2014 into 2015”. tks good job as usual!!!

Greg;
I just re listened to the ROB KIRBY, and JOHN WILLIAMS interviews, a reiteration of each other, SOMETHING BIG, BAD, COMES OUR WAY. I thought it was funny when u asked kirby if they come for his gold, he said he will be last in line for the confiscation, and he chuckled.
Andy Hoffman, falls in line with the same thinking, SOMETHING BAD COMES OUR WAY.

Hi Greg
I have been over in Australia for the last few days watching the All Blacks play the Wallabies [NZ won of course] and hence my lack of comments for the week. I am a shocking typist at the best of times let alone when I can only use my cellphone. Nevertheless I follow Watchdog every day as it is THE most informative geopolitical/financial site that I have been able to find anywhere in the world.
Interestingly while I was in Aus I heard Tony Abbot’s comments about “shirtfronting” Putin when he attends the G20 meeting in Brisbane next month. What a thoroughly reckless and stupid man he is in making comments like this. He is a leader of an important western country and this type of rhetoric reminds me very much of some of the thug-like comments Obama and Cameron have made of late. With these sorts of lunatics running these countries I am amazed that we have not already descended into WW3 – military WW3 that is. Obviously the financial one is already in full swing.

With your weekly roundup I think you absolutely nailed all the most important news items. I particularly enjoyed your comment re Fed ‘head’ Janet Yellen regarding the dribble this silly little woman comes out with. As you well know Greg, the subject of the Fed is close to my heart and I take every opportunity to bang my drum on this one albeit at the risk of sounding tedious to some of my fellow commentors.
To many of us on this site it is painfully obvious that you simply cannot taper what is essentially a giant ponzi scheme especially when all of the QE has gone completely to the wrong sectors of the economy. Any talk of sustained tapering is quite simply farcical. For Yellen to complain about economic inequality just defies belief and rivals some of Helicopter Ben’s all time bloopers. Apparently these people that ‘run’ the Fed are in complete denial off all economic reality in pretending that their dual mandates are met and that the ownership model is legitimate and not a monolithic conflict of interest. These people are either dumb, extremely naive, downright dishonest, or all of the above.

I notice that Andy Hoffman in your interview today, which by the way I thought was absolutely brilliant, touched on this charade that is the Fed. The full employment mandate is a joke when you consider that if the unemployment figure was calculated and reported honestly it would be in the order of 25%. Actually it is not a joke at all. It is a monumental human tragedy that will have serious social repercussions for years to come.

Hi Paul
No mate its definitely the All Blacks.
I hasten too add that they are arguably the most dominant international sports team in the history of the world. Not too bad for a tiny nation of only 4.5 million people.
Google it if you like Paul, a host of independent sporting commentators from all over the world make this claim.
They play this Saturday in Chicago and this will be the first test played against the US on US soil in 34 years. You should treat yourself and go and watch. With you being from Indiana it might not be too far to Chicago anyway.
This is a real game, not like that helmut clad, padded suit wearing, namby pamby US ‘grid iron’ or whatever it is you guys it!
Two of my favourite subjects – the All Blacks and the Fed!
Cheers
Col

This maybe a little off topic but consider for a moment how the scare of Ebolia transmission could effect the upcoming holiday shopping and traveling revenues. That being the largest part of retails revenue producing stream,and then when the fourth quarters retail numbers come out in Jan.2015 they’ll have something new besides the weather to blame for dismal returns

Richard,
I said this on October 6th on Coast to Coast AM. This is not off topic but a real concern this is why the Governors of New York, New Jersey and Ill all have moved to quarantine medical workers coming back from West Africa.
Greg

Greg, I think it will accelerate the on-line shopping/crowd-avoidance trend which caused so many holiday-season delivery SNAFU’s last year. Both UPS and FedEx claim they are “ready”, but maybe not ready enough. Best always. PM

Richard McHenry
In the movie Andromeda Strain, it was found that the bio weapons mutate into a
“second generation”. During the Sixties United States created “Hong Kong Flu”
to affect the “gooks” and it mutated to a non-deadly form.
Please look up some of the facts on American Biowarfare,
Kenema BSL4 Lab.

The real question is who is a citizen now: Oligarchs and Plutocrats and Corporations
control what-when-how the 99.9 percent will get!? The oligarchs, aristocrats, plutocrats can send a swat team to your door, with one phone call to a local magistrate or politician. They wont ask you anything. The movie “they Live”
was very prophetic about hidden forces.

Superb stuff again Greg.
Andy hits a lot of targets here.
The significance of the comment on the FED….rings even louder…..Evidently “they” never did have our backs AND ……they need to ensure that they keep propping up the façade of paper.
I’m glad you broached the subject of PM’s. Gold never did cease to be an important part of the foundation of a sound monetary system. It is being brought back into the equation one way or another. I have no doubt about that.
I’ve done some more thinking on the subject in view of the Harvey Organ interview and in the context of physical availability.
Whilst I appreciate there are a multitude of possibilities as to what may occur, one thing that is common for Gold price appreciation is the underlying causes that precede the spikes /movement.
Take 1979….we have the Russian invasion of Afghanistan to be followed by the high in Gold in 1980.
In mid- August 2011 – we had the Demand for Repatriation of 211Tonne of Gold back to Venezuela. Late August early Sept. 2011 we have the all time high in Gold.
What we now have in front of us is a merging of events occurring almost simultaneously. Its what I like to refer to as “The Perfect Storm” for Gold.
We have the Swiss vote on Gold on 11.30.14. Potential here for not only the repatriation of 1000Tonne of Gold but also the requirement to add a further 1600Tonne of Gold to their reserves.
This is to be seen in the context of where will the Gold come from. As with Venezuela, the Banks were caught short…causing a price spike and further anguish because of the anticipated shortage arising from expected other Central Bank demands. I truly believe this could have turned into a non-deliverable event had the Fed not been able to scramble together the required 211Tonne.
If 211t was an issue …what would 1000Tonne do….cause shockwaves across the spectrum and send Gold rocketing higher.
This also at a time when we know physical stores of gold (GLD,Comex) are being raided. There is talk that even some Euro nations have front run the Swiss decision and are demanding some of their Gold back in anticipation of the YES vote.
The December Longs on Gold Futures are a potential Game Changer for this entire complex. That one event in November could blow the whole matrix apart and send the entire financial system into a tailspin. The USD would be obliterated.
There is in my mind, some very anxious people discussing the ramifications of the Swiss decision. I can visualise the beads of sweat pouring off the brow of one Christine Laggard. I would dare say that the National Guard/Militarised Police would be kept on high alert from early November.
If the insiders are knowledgeable, expect to see the Gold price spike ahead of the vote.
One way or another the system is going to be tested before this year is out.
Banksters should be very fearful for the next month or two because their fabricated world is about to cave in.

We all agree the markets are manipulated. It would be trivial for them to rig a popular vote. The Swiss vote will be “no” and it will be used to re-affirm the current order. The outcome is already determined, just like Irish or Catalonian independence. Popular votes will not be allowed to change the course of the SS Globalist.

And the cream of the crop just keeps on coming.
Your cast of guests has been exceptional Greg, just brilliant!
Mr Hoffman really understands this stuff, he lives it and I have absolutely no doubt whatsoever his prophetic words will become a terrible reality sooner than most people believe.

Great interveiw. I look forward to a closer ratio between gold and silver- and if silver hits 4k/ounce… There will be tons of friends and family that will wish they listened. May God help the people who don’t see this coming and didn’t prepare.

I think Michael was referring to the re-pricing of Silver in terms of its relation to Gold rather than the “perspective” of value in terms of fiat.
As they say Silver is the most undervalued asset on the planet.

I think that $4k/oz number came from Mr. Hoffman speaking in hyper-inflationary terms, with Au seeing $14k/oz at the same time. I don’t care enough to re-watch to see if that was what was said. 🙂 I can’t see Ag hitting $4k/oz and it not being a hyper-inflationary period.

Andy is great! I think something to consider is the Globalist agenda…which is failing.
Too many people are waking up. They have a window between the mid term elections next week and 2016 to bring in global government and NWO crap.
I look for big changes following the elections. What about coming food shortages? California being destroyed, Fukushima killing the Pacific Ocean and the Ukraine is a huge crop producer. Can you get a food expert on the show?

Nice interview with Mr. Hoffman. He says it will be “ugly until we get to the other side”, and that “hopefully we won’t have a world war”… quoting Mr. Celente, “when all else fails, they take you to war”. War is going to be inevitable for many factors – false flags are great for stirring up patriotism (which helps to hold the government together in times of crisis); they can enact curfews, quarantines, confiscations, and rationing (which might be needed for economic problems anyway); and war makes ordinary citizens “patriots” when they turn into willing spies for the government (“my neighbor is hoarding gasoline / my co-worker is pro-Russia / my cousin has some gold he didn’t turn in”). War is divisive; it makes people choose which side they’re on in a all-encompassing manner, especially if the false flag that starts it is big enough (think WTC big or bigger). Plus, choosing to be on the government’s side will be much easier for everyone who is dependent on government subsidies, aid, pensions, and work. I am expecting a war to break out; I just don’t know when or with whom.

War is a constant in the history of mankind. The only variable is time. Technology has enabled a new kind of warfare: cyber war, currency war, propaganda war, all sorts of war. As von Clausewitz said, war is politics by other means. It is not always shooting and bombing, but it can get there. So far as I’m concerned, the government has been making war on me most of my life by debasing the currency, running deficits, and restricting personal freedom ongoing by making end runs on, and outright abrogations of, The Constitution. Best always. PM

Greg, I really enjoy Andy Hoffman. He brings a common sense, factual, approach to what’s happening in the world economy.
Greg the financial pressure is continuing to build as evidenced by another
banker ” supposed suicide”.https://nevadastatepersonnelwatch.wordpress.com/2014/10/26/deutsche-bank-lawyer-and-former-sec-enforcement-attorney-found-dead-in-apparent-suicide/
It should be abundantly clear that something is getting ready to happen. If my math is correct, that makes eighteen bankers who have committed suicide in the last eighteen months. Its either one of two things.
1. They know something, and need to be silenced .
2. They see what’s about to happen and don’t want to be part of it.
This simply cannot be happenstance. Your thoughts?

We know from 9/11 that free energy exists. In 1989 Pons and Fleischmann claimed to have produced cold fusion in the laboratory. If it hadn’t been produced back then, I’m sure it has by now. Cold fusion and alchemy go hand in hand. If precious metals can be produced easily in the lab, they will no longer be very precious. Could this be why the world’s gold supply was allowed to flow to the East, and Germany was told that their gold could be returned in seven years? Gold coins will always have value; they make attractive paper weights. Just don’t buy any gold mines!

I hope your statements are tongue-in-cheek. There is no such thing as “free energy” and gold cannot be refined from dross or conjured from the air. These are human pipedreams of longstanding. The something-for-nothing urge is perhaps the greatest defect of the human mind. Best always. PM

Your comment on Gold is incongruous to the price suppression game.
With China having superior technology, one could only assume that they would use the mystery Science of Alchemy (if it were truly available) to their advantage rather than undertaking the laborious task of vacuuming up the entire global production.
Back to the drawing board RES.

The mother of six lives in a four-bedroom flat on the outskirts of the Spanish capital that was bought jointly by Goldman and a Spanish firm. The 44-year-old said that until March her family paid 58 euros ($73) a month in rent out of her husband’s 500-euro unemployment benefit. In April, her bank statement shows, her new landlords suddenly took 436 euros from her bank account.

She discovered the payment when she tried to pay an electricity bill.

“We went to take money out and there wasn’t a cent left in the bank,” she said, her 18-month-old daughter playing at her feet. She got charity hand-outs to feed her children, aged between 18 months and 19 years, and now lives in fear of the rent bill. Goldman declined to comment.

In the buildings sold to the funds, Reuters has spoken to more than 40 households who face similar difficulties. They include some of Madrid’s most vulnerable people: an unemployed single mother—

Last year Madrid’s city and regional governments sold almost 5,000 rent-controlled flats to private equity investors including Goldman Sachs and Blackstone. At the time, the tenants were told their rental conditions would remain the same.

Great! Andy’s use of the term “economic mother nature” really pins the tail on the donkey. The theater curtains being pulled back will be the time when the masses understand that their are no free lunches and fiat currency will not save us from our own follies.

Look around at your local denizens doing what controllers had wanted them to.
Talk to your neighbors:
know nots, do nots, care nots, produce not, drugged up,
in debt up to the eyeballs, brain salad creeps who believe in crooked electronic
voting machines and hot-air democrats and republicans.
Watch yourself get poorer and poorer: as real estate taxes and food and necessities
go higher.
Look at ethics and morality and family are going away, as prisons fill.
The slipery slope is well oiled and America (USA) falls into the Oligarchs control.
Look at what the Statist-Federalists Government is doing to you.

Charles
Please look at how you are tied up
and confined by millions of federal regulations
and laws. Yes the IRS, NSA, TSA, DIA, DOD, …
enjoys you like fleas, ticks, mosquitoes do. If a cop writes a
ticket, or you are charged with anything: there is 96% conviction.
When the parasites outnumber and overburden the host,
it must die, eventually.

Ha, nice interview Greg. The only question I have anymore is…. Do we see something BIG this year snowballing into next, or does the whole thing come apart in one big bang before the end of 2015. I do not believe we get out of 2015 with any resemblance to what every American has known their entire life. I’m watching for the antichrist and the Israeli peace treaty and I seriously believe that is coming before the end of next year. We shall wait and see!

Great interview. Smart guy…….. I would assume we will see the same ‘ol back door support of the market ( even as they pronounce QE dead) just as they supported the bond market. They will print and funnel the money thru another outlet to buy futures to continue the charade. Everything’s just one big lie.

Greg, Andy is a great guest. Not to many that are more knowledgeable than him. The picture of the future is scary. If unsuppressed gold and silver go that high, how much will a gallon or milk or a loaf of bread cost??? Can you image if there is no more gold in Fort Knox or if there is a limited amount with multiple persons claiming an interest in it?
In my profession, when getting ready for a conference with others, I’ve always been told it’s better to be an hour early than a minute late. The same holds true for preparing…Be well and keep up the great interviews. Doug.

Greg: Good info from Andy. If people listen to all of your guest/experts, they are pretty much saying the same thing. As I was warned many years ago- get out of anything paper, as much as you can. Gold and silver is the money of the “elite’s”.
Also, I was told by my insider friend’s after the 2008 collapse that the elite were going to bring the stock market up one last time, sucker everyone back into the markets and then crash it again. It is said in 2008 when they crashed the markets the elite made $2 trillion.
They plan to do it one more time, it could happen any day?
Gold and silver is where to be- not in the markets. If your in the stock market now- take your profits and run. DO NOT put money into the banks- they’ll steal it for sure!!!

Greg, another outstanding interview. He knows his stuff. Great questions from you as usual. I wonder what happens to the shares of stock in things like the mining stocks in the event of a major collapse like he is talking about. Are the oil stocks, mining stocks, or other resource type stocks, or any equity stocks safe to have anything invested in?
Wonder what he and other experts would say about that, as we try and figure out how to position ourselves as we watch this thing unravel and head to a collision with reality.

Hi Greg,
my comment has no link with the topic but I wanted to share my happiness and my pride with you and the American viewers.In Tunisia,which is my country where I live we’ve beaten the Islamists.Not with tanks,military jets or kalachnikovs,no,but thanks to our votes.Indeed,this sunday it was a Parliament election.And the patriot and nationalist party “Nida Tounes” won against the Islamist “Nahdha”.So yes,we are muslims and proud of that.And no,we do not appreicate the islamist ideology.This peaceful election is so important for an arab and north-african country that I thought you may be interested in this subject.Bye.

Great guest Mr. Greg, Andy Hoffman is just one of the best. Talk about economic mother nature and as always it’s never nice to fool mother nature. It could go any time. pray for the best and keep preparing for the worse. what goes up must come down. The immutable law of the universe. Thanks for the great job you are doing.
Sambo

I’m a person, or entity/institution, that has a printing press that can be used to print dollars. In conjunction with another institution called “government”, have the “authority” to print these dollars as money for me and those I choose to give it to. I would like to ask you a question, Got Dollars?

I’m an individual and I do not have a printing press. Nor do I have the backing of a government to implement my money printing agenda with. I would like to ask you a question, Got Gold?

As your guest Andy Hoffman says … its all about keeping people calm so as to keep the economy from crashing …

Is this the reason why the strict new mandatory quarantine policy in New York and New Jersey (on those who had contact with Ebola in West Africa) is facing “fierce resistance” from the White House??? … in order TO KEEP PEOPLE CALM? … TO KEEP PEOPLE GOING TO WALMART? … TO KEEP THE ECONOMY FROM COLLAPSING EVEN MORE???

Is keeping people “calm “and doing what is “good for the economy “of such concern that it overrules the “RIGHT TO LIFE”?

Why did Washington create Homeland Security? … I thought it was to protect American lives? … or was it to protect the economy???

The right of Americans (who do not knowingly expose themselves to deadly disease) to live normal lives should be protected over the rights of people who knowingly expose themselves to a deadly disease irrespective of the economic consequences.

To save the economy is not a valid excuse for Washington to seek to protect the rights of people who have engaged in risky behavior over those who have not engaged in risky behavior .

Has Washington also told NY and NJ to take down all their red light and speeding cameras so as to allow people to speed and engage in risky driving behavior? … No … the reason is the national economy is not impacted by imposing limits on risky driving behavior.

For Washington to allow people to engage in risky behavior that can kill other people (to save the economy) is equivalent to protecting the right of terrorists to kill and murder innocent people . What happened to the war on terror?? … Why isn’t the House and Senate doing something to protect their constituents?

If Washington wants to allow those who had “contact with Ebola” into our country they should begin flying them directly to Washington DC to give them “a free tour through the Senate and House” to meet “our” representatives and shake their hands for doing such a fine job “protecting the economy”.

You know GREG,I would hope by now everyone realizes the country has been destroyed,THE LORD says everyone needs to buy a TENT,because your going to be living in it soon,Now off hand most wouldn’t believe it,BUT with a known asteroid obiting our planet,and knowing it WILL be coming down soon,Everything going on is just a dog and pony show,AND a close look at the governments actions are a warning all in them selves,so if your near the coast,MOVE NOW,The LORD says it will cause a mag.12 earthquake all across the usa,and the whole planet will shake like jello when it hits,IF the Russians and Chinese wanted to invade,THAT would be the time to do it,and of course the LORD says they will,Beans,Bullets,and BIBLES,will be your best bet………

There won’t be anything left to shoot or anyone able to shoot if a 12-Richter earthquake strikes “all across the US”. The Richter scale is geometric, not arithmetic. I’m not saying it’s not possible, the asteroid and earthquake and all, but if it does take place as you predict, talking about surviving it or what happens thereafter, is moot. Best always. PM

Yes, but they, like us, are stuck with it. If any better alternative existed, we’d already be using it. The problem isn’t the Dollar or any other fiat currency. It’s the mindset of the government or entity employing it. There is a blessing in the coming disaster: perhaps it will show us, once and for all, that reliance on government, any government, as a primary provenance, is a bad idea. Mr. Lincoln talked about a “new birth of freedom”. As Paul McCartney sang, “let it be”. Best always. PM

I think that by wiping out the little people from the market and in general, the uber rich have no one to sell to, no one to pass the wooden nickel to as they have in the past when they would divest and then crash the markets so they could buy back for cents on the dollar–this time they may have to take a few dents in their wallet when the pension funds can no longer take the pressure or realize it is time to —dont panic, but if you do, panic first. We need the institutions to go to cash, and the gold “owners” to all demand delivery in order to start sorting this mess out…

Few people know much about Thomas Jefferson.
I was surprised to find out he died broke.
The reason why Jefferson pushed so hard for honest money was directly related to why this was.
A friend of Thomas Jefferson died and Jefferson was named the executor of the estate.
The law was quite different back then regarding being an executor of an estate.
Back then if the estate owed money the executor was responsible for the debt.
In this case although there was no money owed.
Jefferson took care of dispersing the assets in according to the will and handled the sale of the property.
The property was a valuable asset of this estate and lawyers normally would write loan notes to buyers that wished to purchase property.
The money used back then by the US was called the continental.
When the continental went into hyper inflation the people that owed the money on notes Jefferson wrote paid it in full.

Jefferson wrote the note agreement priced in continental dollars.
This was a major mistake by Jefferson.
Jefferson was paid for the full balance of the notes in worthless continental dollars.

That left Jefferson owing the heirs the balance as it was his responsibly.
Jefferson never recovered from this loss.

An excellent interview, Greg. I have never heard Andy Hoffman speak, although I have read some of the articles he has written. What a whirlwind tour through the many faces of collapse! How could it be more plain?

Thank you for providing this venue and such excellent speakers. I don’t bother with other sites anymore. This is the place I come to keep my finger on things. I am not in a position to be able to make a financial contribution, but I wanted to say how much I appreciate all that you are doing for the rest of us.

Undeniably, the global economic system exhibits exceedingly complex and largely unpredictable dynamics. As such, educated laymen are greatly benefited from a variety of diverse perspectives. Although the guests on your site provide interesting views that balance those promoted by mainstream media, I still find the viewpoints here rather narrow. I thoroughly enjoy the James Rickards and Paul Craig Roberts, but where are other alternatives to the neoclassical economists, such as Steve Keen? People who have solid academic foundations and treat economics in a highly quantitative manner to draw conclusions. Perhaps interviews of Stiglitz or Roubini probing why they disagree with the views that predominate USAWatchdog. ..don’t get me wrong, I get a lot out of the website and think highly of your efforts, Greg. Hopefully, the healthy skeptical disposition continues, but with a widened scope.

The economy is an illusion because everything is being heavily manipulated to keep the game going as long as possible. The collapse will happen when THEY are ready for it to happen. When they have everything in place for Ponzi Scheme II, the economy will fall. There’s no such thing as a mistake or coincidence and nothing just happens. I believe the collapse will be a good thing provided the masses reject centralized banks, fractional reserves and fiat currency. Why let those who engineered this fiasco solve the problems they generated?

WD
Since FASB changed the accounting rules in April 2009 (From mark to market of assets to mark to fantasy) I am not sure we can the trust any accounting, especially the banks. I am also not sure how they are accounting for true inflation.
Greg

WOW greg, that was a surefire mouthful of financial facts.
trust me, I am so far out of the loop on this stuff, i just simply have no clue what u said. 🙂 I just trust the experts, and keep on prepping. lol

Earnings is a factor of two things. Income and Expenses.
Income doesn’t necessarily need to increase to improve earnings however Expenses do need to reduce. One sure fire way of doing that is by reducing the input costs and the largest contributor of most corporates, is the labor cost. Exhibit #1 : Unemployment.
Mark to market is the term used in relation to Impairment of Assets whether they are Fixed/Tangible (eg. Machinery/ Real Estate) or Intangible ( Patents / TM’s or Copyright).
Banks, as we know, make their own laws and therefore are not subject to the FASB.

Corporations are buying back their stock utilizing low rate loans as the means. The stock buy backs count as sales and reduce the companies payouts in the form of dividends. They are basically just revolving the debt from market credit to bank credit, and showing large short term profit from it, which boosts stock prices and pays out executive bonuses. Long term, these corporations will be so saddled with debt and no actual sales to service it, they will crumble to nothing overnight. This is being timed with the currency reset. There will be no place to hide wealth. The whole enchilada is left exposed to be shifted to the East unless one is holding tangible assets.

I would think a falling dollar would help us since we have a terrible problem with import-export balance. Warren Buffett has written about this more than once. When foreigners have extra dollars they can use them to buy ownership stakes in American companies, diverting American profits into the hands of foreigners. America has got to wake up to the fact that people in India and China can do unskilled and even most skilled labor as well as Americans for one-tenth the pay. In the old days technology and political instability made outsourcing impractical but no more. American workers will refuse to work for Chinese wages or anything near that. In fact, American society is built around the premise that the members make American salaries. You can’t function in America without a cell phone, car, computer, indoor plumbing, etc. I don’t know what to do about it, but one response is indeed to redistribute more of the capital gains of the one per-cent to the working class via taxes and job-creation. Don’t worry, the rich won’t move to China because life in China is no fun compared to life in Manhattan or Santa Clara. And if they do we can always send the drones after them (-; This ain’t free-market theory but it may be necessary to maintain social stability.

It means the global collapse, deflation, and subsequent “cure” is near at hand. Look for heavy deflation, wealth destruction, pain, misery….and the savior rescuing us with a new “basket” of currencies…. the SDR….. net result? Consolidation and control of the whole world. Peace and prosperity for all? hardly……

I fear that we wil be just like Mr Hoffman said, a nearly third world country.
There will be social unrest, a very dull, substandard existance. For a very long time.

I noticed in the report how they mentioned Russia, not really snubbing them now are they.

Jerry I mentioned before to you to read a book called the 2nd Coming American Civil War. It centers around financial collpse and what happens after.
I believe all the talk about FEMA camps, UN troops, billions of bullets bought etc will lead to nothing when there is nothing to support that angle. Does anyone really think cops, soldiers, FEMA personnel will stick around when the EBT cards wont process?

Jerry- I think you are right on the majority of this, but even they cant contain a controlled burn that gets out of control.

Jerry, I went to the Citi piece via the link you furnished. Chase and B of A are bad, but for my “money”, Citi is the worst of the lying big-bank bunch. If this isn’t a CYA moment for Citi, then I don’t know what one is. This is propaganda pure and simple. They are coming on as if they are staying abreast of the latest trends for the benefit of their customer base, but it’s really a ploy to save their collective rear-ends when the proverbial doo-doo hits the fan. I don’t trust anything the banks publish. They give the appearance of being in this for the customers, but they just want to save their own skins. The 4% marketshare cited and the #3 ranked reserve currency would indicate to me that the movement is in its infancy, but I do agree that the developments to this point have been sudden, relatively speaking. I still expect a move to electronic currency before the curtain falls, but that’s just me. Best always. PM

This is nothing new in itself. Gold has been there before.
Its not a good sign granted, but 2013 and even 2014 have seen this event.
The “Perfect Storm” is manifesting itself.
Shortage of physical, possible delivery default on long maturities, and the Swiss referendum, with continued China/Russia/ India buying….all leads to a messy end of year.

The power has already shifted to the west. Germany will pull out of the Euro and join the Brics. A formidable power/union…….. The talk of SDR’s coming out of the IMF (west) is just mere hopeful propaganda. I know there’s a lot of smart guys predicting this but I’m saying it’s not going to happen……… As I’ve said before “he who holds the gold makes the rules”. No reason to make it complicated. I will go one step farther and state that “he who owns the resources and particularly oil also make the rules………. Europe has neither and has to beg for gas from Russia to stay warm. What leverage (voice) do they have ? The US has oil that cost more to produce than it’s worth. This whole shale oil story is a scam. Well production drops off in weeks but the debt to drill them is still there. The only reason they drilled was because money was cheap. Now our oil Co’s are deeply indebted ( another Nobama plan ?). Bottom line, the whole shale story is a farce. We can’t even get a pipeline approved…………. So we can’t come to the bargaining table with oil and God knows we have no gold. So tell me again why the Brics will listen to a bankrupt, corrupt has been ? They (China) hold our debt and the gold. We have insurmountable debt……….. This is why all the guys promoting SDR’s are deluding you.

I meant to say the power has already shifted to the EAST………… I do believe the US has one chance to make a major strategic move as we did with Saudi Arabia and oil (Nixon). Far fetched as it sounds, if we could acquire the top miners of the world it would go a long way in stabilizing the dollars fall. Nobama already has executive powers to take our mines which contain some of the largest deposits in the world…….. This is assuming the present administration even cares about correcting the problem (not). But this is what I would do……Acquiring the world’s top gold producers would be a major coup.

Jeff, I think it depends on if you are looking from the supply side or the demand side. The East has clearly captured the supply side in manufacturing, but they can’t seem to get their demand to rise to a level that would allow their supply to subsist without exports to the West. Perhaps that is the downfall of maintaining a devalued currency. No one can afford the knick knacks and dust collecting crap people of the West like to waste their money on. Or is it a testament to the moral character of the populations of Eastern states?

Has “fear not” turned into be very, very fearful? Might it be time to have a full segment on what exactly we all should be doing to prepare for the coming catastrophe! We are not all able to purchase large amounts of silver and or gold. Besides, just owning silver/gold certainly won’t be enough, by itself, to get individuals through this impending nightmare.

Both the recent interviews on the 27th and 29th have been excellent. Both gentlemen are extremely knowledgable and very well spoken. Their insight into the current financial situation globally is invaluable. Thank you Greg for the opportunity to share their insight fullness, something many of us would not have the opportunity to do if it wasn’t for you.

Tks DB.
Listened to the interview.
He makes logical sense esp. with the Int. rate derivatives and the 10yr Treasury and the nonsensical “flight to quality”. There are no buyers ….PERIOD !!!! Brilliant.
The Gap down and up in the TNX is definitely symptomatic of tremendous nefarious action.
Morgan (The Morgue) is not unlike the others of similar ilk. They are dead men walking.
However it doesn’t surprise that one of them is setup to take the hit when the time is right. That time seems about up…. any day now.

Today’s headline “Fed ends QE3 and sends upbeat signals on economy” leads me to believe the FEDRes has such disconnect with reality … and they’re supposed to run the fiscal show … scary!
Thank you for your excellent reporting and please keep it up … it benefits the masses (y)

When there’s no more fiat currency to use for buying/selling gold, what value will gold really have? … since its value is just a made up number based on how many fiat currency units at which someone is willing to buy/sell it. Gold is another side bet in the casino economic model. Someone is going to come up with a replacement for money one day. When the dollar and all the other currencies collapse, what will replace them? The New Dollar? The One Worldo? It’s still going to be based on manipulated numbers from some central bank somewhere.

Leave A Reply

Please Note: All comments are moderated and manually reviewed for spam. In turn, your comment may take up to 24 hours to be posted. USAWatchdog.com also reserves the right to edit comments for grammar and spelling errors.

Poll: What Do You Think?

Greg’s Favorite Sites & Articles

Archives

Archives

About

Greg is the producer and creator of Greg Hunter’s USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin.

USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.